14th Mar 2014 09:26
LONDON (Alliance News) - Wolf Minerals Ltd Friday said its shares have now been suspended on the Australian Securities Exchange pending an announcement about its proposed capital raising.
The company, which expects its shares to still be traded on AIM despite the Australian suspension, had its ASX shares placed in a trading halt at its own request Wednesday. It is trying to undertake a capital raising which will include major shareholders Resource Capital Funds VLP and TTI Ltd.
Wolf Minerals said it expects the suspension to remain in place until it makes an announcement to the market in relation to the outcome of the capital raise or the start of trading on Tuesday, whichever is earlier.
The company is currently constructing its Hemerdon tungsten and tin project in the southwest of England, with a timetable for commissioning and first production in mid-2015.
Wolf's AIM shares were down 3.7% at 19.5 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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